U.S. lawmaker Tom Emmer said SEC chairman Gary Gensler is “protecting” no one with his “regulation through enforcement” strategy. Instead, Emmer believes that the policy hurts “everyday Americans.” Emmer added: “When can we expect proactive guidance instead of leaving the industry to interpret the rules of the road through your after-the-fact enforcement actions?” The lawmaker…
Crypto exchange Bitvavo rejected Digital Currency Group’s (DCG) proposal to repay 70% of its debt because the embattled firm has sufficient funds to make full repayment, according to a Jan. 10 statement. Bitvavo maintained that it was confident that a solution could be found to satisfy all the concerned parties. According to the Netherlands-based company,…
Beleaguered crypto lender Genesis sacked 30% of its workers on Jan. 5, The Wall Street Journal reported citing people familiar with the matter. Genesis previously laid off 20% of its workforce in August 2022, citing market conditions. In a Jan. 4 statement, the embattled lender’s CEO Derar Islim gave hints about this new development. Islim wrote…
Genesis interim CEO Derar Islim pleaded for more time to sort the financial situation of its lending arm, according to a Jan. 4 statement. Islim said the firm was currently involved in “a very complex process that will take some additional time.” He added that the firm remains committed to solving its current situation. Islim…
Gemini co-founder Cameron Winklevoss accused Digital Currency Group (DCG) CEO Barry Silbert of bad faith tactics over the $900 million debt owed by Genesis trading to Earn users. In a Jan. 2 open letter, Winklevoss said Silbert employed stalling tactics and refused to meet stakeholders to resolve issues surrounding the situation. The exchange co-founder gave…
According to its official status page, the U.S-based crypto exchange Gemini was down from 10 pm ET on Dec. 15. The Gemini website appears to be functioning as of press time. Yet, the status page still states that “some systems are currently experiencing outages.” Source: Gemini According to the exchange, Gemini Spaceship was to undergo…
Gemini, a cryptocurrency exchange based in the U.S., said that it has paused withdrawals on its Earn program. Genesis Global, the lending partner of the Earn program, is no longer able to meet customer redemptions as mandated in its service-level agreement (SLA). The exchange said it was working with the Genesis team to help its…
Crypto exchange Bitstamp has announced it will start charging an inactivity fee of €10 per month from August 1. The fee will not apply to users in the U.S. or those with an account balance of over €200. Bitstamp clarified that most customers are not affected by the new “inactivity fee.” The exchange said that affected…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Binance CEO Changpeng Zhao (CZ) has said that the bear market is a great time for crypto companies to hire more people and increase investments, Bloomberg News reported June 13. He said this during the Consensus conference in Austin, Texas. When asked about…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Gemini Trust, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is letting 10% of its staff go as it sees a significant drop in trading activity. This is the first time the exchange laid off its staff since it was…